Eden News

Today Eden announces a one year exclusive evaluation agreement with Corteva Agriscience.

Corteva will evaluate Eden's Sustaine^TM technology and terpenes in seed treatment applications. The multi-billion dollar seed treatment sector is forecast to grow at 9.8% CAGR to 2024 and biological solutions in particular are in demand. 

For full details of the announcement, please click here.

Eden's three terpene active ingredients - thymol, eugenol and geraniol - have been granted organic approval in the EU.

This news starts the new year with a bang as the organic sector is experiencing continued strong growth. In the last 10 years the area under organic production has increased by 70% in the EU alone. Globally, the EU is the second largest consumer of organic products, with the annual value reaching over €34billion. 

For full details of the announcement, please click here.

Eden's commercial partner Sipcam will now distribute and sell Mevalone in Portugal and Benelux (subject to regulatory approval in Benelux). 

Growers will benefit from both strong product performance and the considerable expertise to support it, which Sipcam has developed in Italy and Spain (where Mevalone is branded as 3logy and ARAW).

Portugal ranks 9th in the world for area under vines and is a key market for Eden's Mevalone bio-fungicide.

For full details of the announcement, please click here.

Mexico has authorised the use of Cedroz on a wide range of crops, including tomatoes, potatoes, peppers, eggplants, melons, chili peppers, pepinos and squash. Significantly, Mexico is the largest exporter of tomatoes globally, as well as being the largest supplier of agricultural products to the U.S.

This first entry into the Americas is a positive development for Cedroz and Eden's Sustaine^TM encapsulation technology and represents increasing demand for more sustainable solutions in agriculture.

For full details of the announcement, please click here.

Eden is pleased to announce a new distribution agreement with SumiAgro Europe which allows SAE the exclusive right to sell Eden's fungicide product, Mevalone, in five new markets across central Europe, including Germany and Poland.

The agreements includes treatment of grapes against Botrytis and treatment of apples against post-harvest storage diseases.

For full details of the announcement, please click here.

Eden is pleased to announce that it has been highly commended in two categories in the 2019 Agrow Awards.

Sustaine™ was highly commended in the Best New Formulation Category. 

Sustaine™ is a novel, patented encapsulation solution for a wide range of currently registered agrochemicals. Sustaine™ capsules are naturally sourced biodegradable micro-spheres producing stablished aqueous emulsions which, are easy to mix and apply, safer to the environment and have reduced phytotoxicity. It is one of the only viable, proven and immediately registerable solutions to the microplastics problem.

Mevalone™ was highly commended in the Best New Biopesticide category. 

Mevalone™ is a unique biofungicide based on natural plant chemistry, successfully utilised by growers as a valuable part of their crop protection programmes. Developed by Eden Research plc and distributed via commercial partners across Europe and Kenya, Mevalone provides an invaluable tool to tackle Botrytis cinerea. The antifungal activity of a combination of three plant terpenes is harnessed by Eden’s patented microencapsulation technology, Sustaine™. Solvent free, residue exempt, efficacious and price competitive, Mevalone represents a significant step forward in the development of new and reliable, biological crop protection technology.

https://agribusinessintelligence.informa.com/events-and-webinars/events/crop-science-forum-and-awards

Eden Research plc (AIM: EDEN), the AIM listed company that develops and supplies breakthrough biopesticide products and natural, plastic- free microencapsulation technologies to the global crop protection, animal health and consumer products industries, announces that Sean Smith, CEO, has today purchased 114,313 ordinary shares of 1 pence each in the capital of the Company ("Ordinary Shares") at a price of 8.3 pence.

Following this purchase, Mr Smith holds 547,706 Ordinary Shares representing approximately 0.26 per cent. of the Company's issued share capital.

For full details please click here.

Eden is pleased to announce that its commercial partner, Eastman Chemical Company ("Eastman"), has received full authorisation for Eden's nematicide formulation, marketed as Cedroz^TM by Eastman, from the Belgian Ministry of Agriculture.

Cedroz is an innovative and natural solution designed to fight nematodes, a pest that is known to cause severe damage to crops globally for both open field and greenhouse growers, resulting in potential yield losses and increasing farmers' costs. Belgium has authorised the use of Cedroz on a wide range of crops, including cucumbers, courgettes, melons, aubergine, peppers, tomatoes and strawberries.

Whilst the market opportunities for Cedroz in Belgium are smaller than in other markets such as Italy and Spain, this is the first full authorisation in the EU following the initial authorisation of Cedroz by the Rapporteur Member State, Malta, earlier this year. This is also the first authorisation of any Eden formulated product for use in greenhouse applications in Europe.

In line with consumer demand and a regulatory push for products that support sustainable agriculture and zero pesticide residues, Cedroz is an attractive alternative for farmers looking to fight nematodes in an environmentally friendly way. Unlike many other products, Cedroz is residue-free and has a zero-day pre-harvest interval, thereby allowing applications right up to harvest, if required.

Sean Smith, Chief Executive Officer of Eden, said: "There are multiple, significant opportunities for the use of Cedroz in greenhouse applications which means that the authorisation in Belgium, where the primary use will be in greenhouses, is a very good starting point for authorisations to come in other EU Member States.

In addition, authorisations which are due to follow in other Member States will also include outdoor application where the market opportunities are potentially even greater."

For further detail please click here.

Eden Research plc (AIM: EDEN), the AIM-listed company that develops and supplies breakthrough biopesticide products and natural microencapsulation technologies to the global crop protection, animal health and consumer products industries, announces its interim results for the six months ended 30 June 2019. 

Financial highlights

• Revenue for the period of £0.58m (H1 2018: £0.68m)
• Product sales £0.45m (H1 2018: £0.68m) 
• Upfront and milestone payments of £0.13m (H1 2018: £nil)
• Operating loss for the period reduced to £0.63m (H1 2018: £0.93m) 
• Cash and cash equivalents of £1.36m (H1 2018: £2.62m)

Business & Operational highlights  

• Eden's nematicide formulation, Cedroz, has been approved by the zonal rapporteur member state for use in the southern and indoor EU regulatory zones. Cedroz is an innovative and sustainable solution designed to fight plant parasitic nematodes, pests that are known to cause severe damage to crops globally in both open field and greenhouse growing environments, resulting in significant yield losses and increasing growers' costs. 
• Emergency use authorisation granted in Italy for the treatment of nematodes on tomatoes and a range of additional crops, leading to the first commercial sales of Cedroz.
• Emergency use authorisation has been granted for the use of Mevalone to combat post harvest storage disease on apples in France.  Mevalone is a terpene-based fungicide that initially targeted Botrytis, a widespread fungal disease that causes grey mould on many fruits and vegetables, leading to the rapid loss of commercially valuable crops.  Treatment of apples for post harvest diseases represents an entirely new market for Mevalone.
• Appointment of Rob Cannings as Commercial Director and Felicity Lenyk as Product and Market Manager.

The full report can be downloaded here.

Eden Research plc (AIM: EDEN), the AIM listed company that develops and supplies breakthrough biopesticide products and natural microencapsulation technologies to the global crop protection, animal health and consumer products industries, is pleased to announce that its commercial partner, Sumi Agro France ("Sumi Agro"), has received a 120 day "emergency use" authorisation for Eden's fungicide, Mevalone, from the French authorities for the treatment of storage diseases on apples. Such "emergency" authorisations are allowed by EU member states when local regulatory authorities judge that they are needed in the local market in order to meet the requirements of growers in the absence of suitable commercially-available alternatives.

Sumi Agro has been selling Mevalone in France since receiving approval for the sale and use of Mevalone for the treatment of botrytis on table and wine grapes in January 2017. This 120-day derogation represents the first authorisation for the use of Mevalone on apples and for the treatment of post-harvest storage diseases. Under this 120-day derogation, Sumi Agro will sell Mevalone to apple producers who will apply Mevalone just prior to harvest. France is one of the top ten producers of apples globally and is the third largest producer in Europe. France is also the fifth largest exporter of apples globally by value.

Mevalone offer growers tremendous advantages by providing efficacy against important crop diseases with active ingredients that are exempt from residue limits and the ability to apply the product just prior to harvest. The benefits of Mevalone are further expanded in this new use as growers are now able to extend the shelf-life of apples and help to reduce food waste and cost in the supply chain. Regulatory authorisation of Mevalone for this use in France and other territories remains subject to full regulatory approval.

Sean Smith, Chief Executive Officer of Eden, said: "This is excellent news supporting the further growth of Mevalone sales as it represents a major new use on an important crop for the treatment of diseases that affect the shelf life of apples. Extending the shelf life of any produce is an impactful way of helping to reduce food chain costs and food waste.

“Whist this derogation is valid until the 21st of November 2019, it is a useful illustration of the importance placed by the authorities on the introduction of new, sustainable crop protection products that meet consumer demand for safe foods that are free from pesticide residues. We are working actively with Sumi Agro to support the full authorisation of Mevalone for use in the treatment of pome fruit storage disease, and we believe that this is achievable in the foreseeable future.”

Antoine Meyer, President of Sumi Agro France, said: "For the Sumi Agro France team, this emergency use is another important opportunity to promote Mevalone to growers and to better serve a modern and evolving agriculture responding fully to the needs of society. It represents also the strong and constructive cooperation between Eden and Sumi Agro France vis-à-vis influencers and political and administrative authorities."

For further information contact:

Notes:

Eden Research is a technology development and commercialisation company with intellectual property and expertise in encapsulation, terpenes and environmentally friendly technologies to provide naturally occurring solutions for the global agrochemicals, animal health, and consumer product industries.

Eden's encapsulation technology harnesses the biocidal efficacy of naturally occurring chemicals produced by plants (terpenes) and can also be used with both natural and synthetic compounds to enhance their performance and ease-of-use. The technology uses yeast cells that are a by-product of numerous commercial production processes to deliver a slow release of natural compounds for agricultural and non-agricultural uses. Terpenes are already widely used in the food flavouring, cosmetics and pharmaceutical industries.

Historically, terpenes have had limited commercial use in the agrochemical sector due to their volatility, phytotoxicity and poor solubility. Eden's platform encapsulation technology provides a unique, environmentally friendly solution to these problems and enables terpenes to be used as effective, low-risk agrochemicals.

Eden is developing these technologies through innovative research and a series of commercial production, marketing and distribution partnerships.

The Company has a number of patents and a pipeline of products at differing stages of development targeting specific areas of the global agrochemicals industry. To date, the Company has invested in the region of £13m in developing and protecting its intellectual property and seeking regulatory approval for products that rely upon the Company's technologies. Revenues earned by the Company have been modest whilst the Company has concentrated on securing patent protection for its intellectual property, gaining regulatory approvals, identifying suitable industrial partners, and entering into commercial agreements.

In May 2013, the three actives that comprise Eden's first commercial product, Mevalone, were approved as new ingredients for use in plant protection products. This represented a major milestone in the commercialisation of Eden's technology and is a significant accomplishment for any company. To illustrate this point, one should note that in all of 2013, Eden's approvals represented 3 of only 10 new active ingredients approved by the EC.

Mevalone has been authorised for sale in Kenya, Malta, Greece, Bulgaria, Spain, Italy, France, Cyprus, Albania and Portugal.

Eden was admitted to trading on AIM on 11 May 2012 and trades under the symbol EDEN.

For more information about Eden, please visit: www.edenresearch.com.

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